Web-Conferencing Solution targets financial industry.

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Press Release Summary:

IMConferencing enables financial professionals to take advantage of online web conferencing while remaining in compliance with SEC and NASD requirements. Within each session they can conduct seminars, work collaboratively with clients on financial plans, and review portfolio statements. Each IMC session is captured and imported into AdvisorMail, where transcripts are screened for regulatory compliance and then stored for future retrieval.

Original Press Release:

PHOENIX, Ariz., March 22, 2004 -- LiveOffice Corporation (www.liveoffice.com), the leading provider of web sites, compliance systems and collaborative applications, announced today at the SIA Compliance and Legal Division Seminar that it would be the first to offer a fully integrated, compliance-enabled web conferencing solution to the financial services industry. Combining the company's popular AdvisorMail (advisormail.net) compliance system with its IMConferencing (www.imconferencing.com) web conferencing solution will enable financial professionals to take full advantage of the productivity benefits of online web conferencing, while remaining in full compliance with all SEC and NASD regulatory requirements.

"Our 12,000 financial services customers consistently remind us that they grow their practices by maintaining high levels of personal contact with their clients and prospects," said Matthew Smith, chief operating officer for LiveOffice Corp. "While web conferencing is the perfect way for them to stay in touch with important clients, compliance regulations have prevented most financial advisors from taking full advantage of this new technology. LiveOffice's regulatory-compliant version of IMConferencing solves this problem and is well-positioned to replace the telephone as the preferred communication method for many financial advisors and their clients."

IMConferencing (IMC) enables financial advisors to launch web conferencing sessions with the click of a mouse. Within each session they can call upon a rich suite of features to conduct seminars, work collaboratively with clients on financial plans, review portfolio statements or tax returns or simply exchange ideas on the most recent ups and downs of the market. In addition, fully integrated telephony and multi-point video conferencing add a personal touch not available with other web conferencing solutions.

Each IMC session is captured and imported into LiveOffice's compliance application, AdvisorMail. Within AdvisorMail, full transcripts of all instant message conversations, copy from seminar presentations and transcripts of other shared materials are screened for compliance with NASD and SEC regulations, and then stored for future retrieval by compliance personnel. If any problematic language is discovered, AdvisorMail immediately highlights it and alerts the compliance officer to conduct further review of the communication.

The growth of instant messaging as a business communication tool has presented a dilemma to financial services organizations. Instant messages, like emails, require compliance oversight. When financial professionals have tried to use a public IM network (Yahoo, MSN, AIM), the compliance department has been forced to review both business and personal IM communications.

LiveOffice's integration of IMC and AdvisorMail solves this problem by providing financial professionals with the equivalent of a private enterprise deployment of instant messaging, ensuring that business communications are separated from personal correspondence, and that all business-related instant messages are available for compliance review.

"As part of this rollout, we will be offering a fully compliant enterprise instant messaging system free of charge to all customers who install our AdvisorMail compliance application before June 1, 2004," said Ann Davis, director of business development for LiveOffice Corp. "The use of instant messaging as a business communication tool is projected to grow at a rate of more than 30% per year, and now financial professionals can securely integrate this new technology into their practices with the confidence that all compliance regulations are being met."

LiveOffice will demonstrate AdvisorMail and IMC in booth #14 at the SIA Compliance and Legal Division Seminar taking place today through Wednesday at the J.W. Marriott Desert Ridge Resort & Spa in Phoenix, AZ.

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